LS Investment Advisors LLC Reduces Stake in Graco Inc. (GGG)

LS Investment Advisors LLC reduced its position in Graco Inc. (NYSE:GGG) by 1.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,844 shares of the industrial products company’s stock after selling 44 shares during the period. LS Investment Advisors LLC’s holdings in Graco were worth $362,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its stake in shares of Graco by 66.5% in the third quarter. Capital World Investors now owns 458,000 shares of the industrial products company’s stock worth $33,892,000 after buying an additional 183,000 shares in the last quarter. Clinton Group Inc. bought a new stake in shares of Graco during the third quarter worth $2,230,000. UBS Group AG boosted its stake in shares of Graco by 59.0% in the third quarter. UBS Group AG now owns 84,226 shares of the industrial products company’s stock worth $6,233,000 after buying an additional 31,240 shares in the last quarter. Mairs & Power INC boosted its stake in shares of Graco by 11.1% in the third quarter. Mairs & Power INC now owns 3,265,581 shares of the industrial products company’s stock worth $241,653,000 after buying an additional 325,193 shares in the last quarter. Finally, BOKF NA boosted its stake in shares of Graco by 14.4% in the third quarter. BOKF NA now owns 7,851 shares of the industrial products company’s stock worth $580,000 after buying an additional 987 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

Graco Inc. (NYSE:GGG) traded up 0.56% during trading on Friday, hitting $110.81. The company had a trading volume of 171,613 shares. Graco Inc. has a one year low of $69.33 and a one year high of $111.69. The stock has a 50-day moving average of $101.46 and a 200-day moving average of $90.36. The stock has a market capitalization of $6.16 billion, a PE ratio of 103.37 and a beta of 1.27.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.30. The company had revenue of $340.59 million during the quarter, compared to analysts’ expectations of $315.62 million. Graco had a return on equity of 31.04% and a net margin of 3.06%. Graco’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. On average, equities analysts anticipate that Graco Inc. will post $4.15 EPS for the current year.

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A number of analysts have weighed in on the company. TheStreet raised Graco from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $104.00 price target on shares of Graco in a research report on Friday, April 28th. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a research report on Friday, March 3rd. Finally, Wunderlich cut Graco from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Wednesday, February 1st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Graco has a consensus rating of “Hold” and a consensus price target of $92.00.

In related news, VP Karen Park Gallivan sold 13,250 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $92.00, for a total value of $1,219,000.00. Following the completion of the sale, the vice president now directly owns 25,158 shares in the company, valued at approximately $2,314,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Carroll sold 740 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $91.77, for a total transaction of $67,909.80. Following the completion of the sale, the director now owns 22,103 shares of the company’s stock, valued at $2,028,392.31. The disclosure for this sale can be found here. Insiders sold a total of 604,956 shares of company stock valued at $13,822,472 over the last quarter. 5.60% of the stock is currently owned by company insiders.

About Graco

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

5 Day Chart for NYSE:GGG

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